Key events that happened in February/March 2017

Welcome to this month’s summary of the key events that happened in February/March 2017. Compiled by our chartered accountants in Hull. Our roundup has been specially designed to provide easy-to-read summary of business and finance developments. We supply links to publications, alerts, tips & advice on a range of topics covering VAT, tax, payroll and other business knowledge from around the web.

Payroll

Diana Bruce, senior policy liaison officer at the Chartered Institute of Payroll Professionals, rounds up the ever-changing world of pension legislation. Are you aware of the coming changes this year?

Read more: Pensions in 2017: Key changes

Tax planning

Find out why Making Tax Digital shouldn’t be the only driver for digital record-keeping as IRIS reveals five compelling reasons why the time to transition your clients to digital is now.

Read more: Making Tax Digital Whitepaper 1

Online cloud accounting

With so much uncertainty on the horizon, getting your finances and cash flow in good shape is imperative to help your business to survive. Cloud accounting software enables you to invoice fast, handle payroll, reconcile with banks, record and manage expenses, all in one place. Here are some more practical tips for cloud accounting.

Read More: Four Ways SMBs Can Prepare For Brexit Britain

Business advisory

Thousands of firms in England and Wales are set to see dramatic changes to the amount they pay in business rates, after the government publishes the new "rateable values" of their properties.

Read more: UK Business rate increases from April 2017

Research and Development (R&D) Tax Credits

In the past 12 months Haines Watts have successfully claimed in excess of £17.9million additional tax deductions for clients

Haines Watts are proud to say we have a 100% success record with our claims.

Below is a case study we have compiled for one R&D claim we have worked on which involved £117K cash refund from HMRC as a result of two R&D claims produced by Haines Watts.

Haines Watts Hull Blogs

Missed our posts this month? Here they are again:

Read More: Capital Gains Tax On Second Home

Read More: Capital Allowances on Cars

Read More: Landlord Advice Hull – Buy-To-Let Tax Advice

Tax Diary March 2017

Key accounting dates for March 2017 are:

1st March 2017 – Due date for payment of Corporation Tax for period ended 31 May 2016.

1st March 2017 - Revised Fuel only rates issued by HMRC – required for calculating the VAT reclaimable on employees mileage expenses.

19 March 2016 – PAYE and NIC due for the month ended 5 March 2017.

31 March 2017 – End of Corporation Tax financial year.

31 March 2017 - End of CT61 quarterly period.

31 March 2017 - Filing date for Corporation Tax Return Form CT600 for period ended 31 March 2016

If you would like to discuss any of the information in this post or find out more about our audit, accountancy, taxation and business advisory services in Hull, Scunthorpe & Grimsby please speak to on our our hull accountants by calling 01482 598694, using our online form or emailing hull@hwca.com